Urals metal industry grows despite sanctions, region’s head says

August 31, 2014, 23:24 UTC+3CHELYABINSKOn the whole, the economic situation in the region is stable, the acting head said at a meeting with Russian President Vladimir Putin

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CHELYABINSK, August 31, /ITAR-TASS/. Metallurgical industry in the Chelyabinsk region shows a four to 16% growth despite western sanctions and a general slowdown of the Russian economy, the acting head of the Russian region in the Ural Mountains said on Sunday.

On the whole, the economic situation in the region is stable, with industrial growth of two percent in January-August, and a 4% growth in the agro-industrial sector, the acting head said at a meeting with Russian President Vladimir Putin.

Russian officials and companies came under Western sanctions, including visa bans and asset freezes, after Russia incorporated Crimea in mid-March.

Moscow warned the West that the language of sanctions will have a boomerang effect. The West announced new sectoral sanctions against Russia in late July over Moscow’s position on Ukrainian events. Russia imposed on August 6 a one-year ban on imports of beef, pork, poultry, fish, cheeses, fruit, vegetables and dairy products from Australia, Canada, the EU, the United States and Norway.